Whether you are moving for a job transfer or want to be close to family, relocation to another state might be necessary. In most situations, homeowners prefer to sell their house before moving to another state.
Unfortunately, most properties take time to sell due to high asking prices and the real estate market conditions. Often, it requires significant expertise and time to get a good outcome from the transaction.
Tips for Selling a House in Tennessee and Moving State
Managing the sale of your house while in a different state or simultaneously paying two mortgages can be a headache and a financial burden. More so, selling before moving can be a struggle if you need the cash to buy a new home in another state. The following tips should help you:
Establish a Reasonable Price
Remodeling and improving your home and aggressive pricing can be a time saver when selling your house. Overpriced houses do not sell. Setting a price on the low side should be the least of your worries.
Multiple offers will bid the price up to the house’s actual value.
So your price has to be more appealing than the competition.
Time the Sale
House sales in Tennessee flow with seasons. While the timing may not be everything, it does influence the price and how fast your house will sell. For example, homes sold in June sell faster than in January.
Time the season so that you don’t sell too fast and you have no other home lined up in the new state. Closing the sale could also take too long with the wrong timing leaving you with no funds to facilitate moving out of state.
Consider Selling to Cash Buyers
The best option for closing within the timeframe you are looking for is to sell your house to cash home buyers. They purchase homes as they are, meaning you won’t have to make any repairs to prepare the house for staging or selling.
Since the payment is in cash, the buyers are likely to close in fewer days. Selling to cash buyers saves time and will give you enough time to plan your move as you will not have to put any resources into renovations.
Request a Flexible Closing Date
Ask for a flexible closing date to give you time to line up a new house and plan for moving out of state. Some buyers may be flexible and willing to close in a month or two.
If your house sells too soon and your new residence is not ready, renting back may be an option. The new buyer would need to agree to allow you to stay for a few more months. You would pay the new buyer rent until your new home is lined up.
Tips for Moving out of State
Once you have started the selling process, it’s time to prepare for your out-of-state move. Consider the following tips for moving out of Tennessee.
Research the New State and City
Do research online or take an exploration trip to the new city. Check out available schools, commute times, and the security of the neighborhoods.
Before moving out of state, secure housing, and employment if possible. You are better off having a new house before you arrive in the new state.
Evaluate the Cost of Living
Establish how much more or less your cost of living will be after moving to another state. The primary areas to check include taxes, food, housing, clothes, and transportation. In addition, if you want to run a business, check the cost of business licenses and payroll taxes.
Set Aside Money for Moving
Relocating to another state is expensive. Ensure you have savings to cover the expenses. Some of the costs you should think about are mileage overage surcharges, utility deposits, and connection fees, and gas/diesel expenses, to mention a few.
Explore Your Neighborhood
After settling in the new state, get to know your neighborhood. Meet new people, join the local neighborhood association, and take walks or bike rides around your neighborhood.
Cost Of Moving Out of State
Considering moving services, the average cost of moving out of Tennessee is $4,800. Of course, the costs vary depending on how far away you’re moving and how much you are taking. This number results from an average distance of 1,225 miles and an average weight of 7,400 pounds.
Now, if you opt to use a moving container, the average cost is $2,231 for the same distance and weight. The cheapest option would be truck rental, costing only $1,700.
Other factors include the following:
- Moving Supplies: You may need foam pouches, cardboard boxes, packing tapes, and labels.
- Household Furniture: Whether you want to buy new furniture for the new home or replace broken furniture, this is a hidden moving cost. The cost depends on the type and volume of furniture you purchase.
- Automobile Shipping: For movers that are not willing to drive their cars to the new state, the average cost of hauling a car is $1,650 for a distance of 2,790 miles.
- Appraisal Costs: When buying property in the new state, the appraisal fees range from $300 to $450, depending on the size of the property.
Steps for Moving out of State
Now that you understand the costs, let’s look at the specific steps involved in moving to another state.
1. Establish a Plan for Moving States
Create a master plan of the move before you begin the research process. Come up with a budget of how much you will spend in the process, your transport options, and the belongings you will bring to the new state.
2. Assess Moving and Storage Options
Moving and transportation are challenging, and appropriate planning will make the process easier. Some questions to ask include whether you will hire professional movers, rent a moving truck or use portable containers to pack, store and move your stuff.
3. Pick a Moving Date
Consider your work and family schedule, weather, and the availability of the moving company when picking a date. Moving during peak seasons and days can affect the cost of your move.
4. Ensure Your Utilities Are Running
Ensure utilities in your new house are running before moving to a new state. Set up internet access, power, water and sewer, and garbage collection to ready the comforts.
Unless you plan to do the cleaning yourself, hire a cleaning company for deep cleaning the new house.
5. Make Travel Arrangements
Long-distance relocation requires travel arrangements like booking air tickets, car rentals, hotel reservations, and car shipping services for your automobile.
6. Update Your Driver’s License and Vehicle Registration
After moving out of Tennessee, the first thing to do is change your vehicle registration and driver’s license. The process might take up to a month. Remember also to change your address in your vehicle insurance policy.
7. Update Your Address and Register to Vote in Your New City
Update all your information by submitting a Change-of-Address form with the USPS. Change your mailing address in all your accounts, including online, and register to vote in your new state.
Selling Laws in Tennessee
Selling laws in Tennessee require that all sellers give the buyer a disclosure statement before making a real estate transfer.
The document should inform the buyer of any known material defects of the house.
The seller is also not required to conduct an independent investigation or obtain an inspection to complete the form. However, failure to disclose defects can attract a lawsuit, or the seller can be convicted of a crime.
A buyer can waive their right to a disclosure statement if they are buying the home “as is” or plan to demolish the entire house.
To get this waiver, the seller must provide a disclaimer statement that tells the buyer to make no warranties or representations of the property’s condition.
Selling to Cash House Buyers
Selling your house to cash home buyers in Memphis is a good option if you want to sell your house fast without doing repairs or paying realtors fees. If you are not sure whom you can sell, look for companies that buy houses in Tennessee.
Selling your house to cash home buyers is simple and easy, and you don’t have to involve intermediaries in the process.
You can look for cash buyers through referrals or online searches. Inspection will occur, and after a review of the property, you will receive a cash offer without fees and obligations.
You have the option of closing the sale fast or slow for your convenience. The benefits of selling a house for cash include a negotiating advantage, cost savings, fast closing, and less stress.
When selling a house to move to another state, you have limited time. Therefore, selling your home before moving states will save you costs and ensure you have money to facilitate the relocation.
To sell your house fast in Tennessee, set a reasonable price, time the sale, and consider selling to cash buyers.
The cost of moving to another depends on the moving option you select and additional expenses like realtor fees. In addition, to transfer ownership of your property, you must comply with Tennessee selling law that requires you to provide a disclosure statement to the buyer.
If you are selling a house to move out of Tennessee, you don’t have to wait months to close a sale. Instead, look for companies that buy houses in Tennessee in their current condition.